The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 1,242 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $178.83, for a total value of $222,106.86. Following the sale, the chief executive officer now owns 568,541 shares of the company’s stock, valued at $101,672,187.03. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

The PNC Financial Services Group Trading Down 1.4 %

Shares of PNC stock opened at $168.63 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The company has a market cap of $66.74 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business’s 50 day moving average is $192.50 and its two-hundred day moving average is $192.58.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.16 EPS. Equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.80%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Compass Point upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Citigroup lifted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $205.00.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently added to or reduced their stakes in PNC. Vanguard Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock worth $7,273,794,000 after buying an additional 268,827 shares during the last quarter. State Street Corp increased its position in The PNC Financial Services Group by 0.6% during the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock worth $3,197,791,000 after acquiring an additional 100,573 shares during the period. Franklin Resources Inc. raised its stake in The PNC Financial Services Group by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock valued at $2,089,622,000 after purchasing an additional 549,278 shares during the last quarter. Geode Capital Management LLC raised its stake in The PNC Financial Services Group by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after purchasing an additional 166,138 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in The PNC Financial Services Group by 10.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.